PARIS--(BUSINESS WIRE)--Regulatory News:
On 14 March 2017, PSA Group (Paris:UG) launched a €600 million bond issue that was more than twice oversubscribed.
This transaction, with a seven-year maturity, strengthens the Group's liquidity and extends the average maturity of its bond debt at the lowest cost ever achieved by PSA Group, with an annual coupon of 2%.
Commenting on the transaction, Jean-Baptiste de Chatillon, Chief Financial Officer of PSA Group and member of the Managing Board, said: "This transaction has been another success for the Group. It demonstrates investors' confidence in our 'Push to Pass' growth plan, and illustrates the market's positive reception to our merger project with Opel/Vauxhall”.
This issue was driven by the following 11 banks: BNP Paribas, CA CIB, Commerzbank, HSBC, Natixis, Santander, Société Générale, BBVA, CM CIC, Citi, NatWest Markets.
About PSA Group
With sales and revenue of €54 billion in 2015, the PSA Group designs unique automotive experiences and delivers mobility solutions that provide freedom and enjoyment to customers around the world. The Group has three car brands, Peugeot, Citroën and DS, as well as a wide array of mobility and smart services under its Free2Move brand, to meet the evolving needs and expectations of automobile users. The automobile manufacturer PSA is the European leader in terms of CO2 emissions, with average emissions of 102.4 grams per kilometre in 2016, and an early innovator in the field of autonomous and connected cars, with 2.3 million such vehicles worldwide. It is also involved in financing activities through Banque PSA Finance and in automotive equipment via Faurecia. Find out more at groupe-psa.com/en.